Limited Company who own an apartment block, each of the owners contributes a service charge every month. Which is the best code to put the payment receipts through?
A code somewhere in the 4xxx range would be appropriate. Depending on what other income accounts you are already using, you might want to set up a new nominal account. Name it clearly - eg "Owners's monthly service charges".
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Sheelagh Lyons Bookkeeping Clarity Making Bookkeeping Clearer
The answers I provide are meant as a general guide only and do not constitute advice.
